National Business

MONTREAL — As Gildan Activewear Inc. gears up for its 40th anniversary, the Montreal-based company is ready to put a recent leadership battle in the rearview mirror.

TORONTO — When Dani Reiss took over his family's business, Canada Goose Holdings Inc., in 2001, it had a reputation for clothing made for those needing to brave the coldest of colds.

Workers in industries that experience typical slow periods during the year might be faced with a seasonal layoff from their employer. But experts say workers should know the risks before signing up to be laid off temporarily.

TORONTO — Thomson Reuters says its earnings slipped in the second quarter while revenue rose and it edged up its revenue outlook. The media giant says it had earnings of US$841 million in its second quarter, down from US$894 million last year.

The number of Americans filing for unemployment benefits jumped to its highest level in a year last week, even as the labor market remains surprisingly healthy in an era of high interest rates.

LONDON (AP) — The Bank of England has cut interest rates for the first time since the onset of the COVID-19 pandemic in early 2020 as inflationary pressures in the economy have eased.

TORONTO — A coalition of Ontario developers has written to three levels of government to ask for a reduction in taxes on new housing, saying it will pass on those savings dollar for dollar to homebuyers.

MONTREAL — Lion Electric Co. says it is laying off hundreds more workers as part of a plan to staunch its financial losses. The announcement sent the electric bus company's shares into a tailspin, leaving them a penny stock by day's end.

VANCOUVER — The chair of the British Columbia Securities Commission is calling on the federal government to change legislation to protect investors after the Supreme Court of Canada ruled fines issued by regulators can be wiped out by bankruptcy.

VANCOUVER — The chair of Canada's Transportation Safety Board says it was luck rather than preparedness that helped in putting out a fire on a cargo ship off Vancouver Island's coast in October 2021.